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Morgages????

Discussion in 'General Discussion' started by Lulu, Oct 15, 2006.

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  1. BRID

    BRID Has name in red. Staff

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    What do you think the interest portion on a mortgage is ... NOTHING.

    Your not paying off any capital - its merely money being paid to the bank.

    renting allows flexibility and the ability to move around - its not just 'dead money' as many people bang on about.
    BRID, Oct 17, 2006
    #41
  2. ManofScience

    ManofScience Guest

    you could also buy somewhere for that money. it's the propertly ladder - you start at the bottom, in a shit hole with no roof and smackheads next door. you put a roof on and kill the smack heads then a year or 2 later sell if for a small profit, then choose somewhere else.

    people want TOP houses to live straight away and aren't willing to wait - it's today's society of get it now, pay later ;)
    ManofScience, Oct 17, 2006
    #42
  3. Yosef Ha'Kohain

    Yosef Ha'Kohain Registered User

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    I'm not going to tell you how to spend your money... but renting isn't for me :D
    Yosef Ha'Kohain, Oct 17, 2006
    #43
  4. B.O.B.

    B.O.B. Registered User

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    I remember trying to tell you this a year or two ago when you were a proud renter!

    Buying a house was one of the best things I've ever done. If you buy well and in an up and coming area, you can make a killing. I've managed to jump several rungs on the property ladder by doing this.
    B.O.B., Oct 17, 2006
    #44
  5. BRID

    BRID Has name in red. Staff

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    I dont see how theres a ladder when prices are more likely to go down and stagnate LIKE THEY ARE DOING RIGHT NOW.

    How can you hop around, how can you increase your mortgage a bit and buy that bigger house - when your priced out of the opportunity.

    People are at their limits right now in terms of affordability, so the old adage of using the word 'ladder' as a means to getting somewhere in life isnt relevant.

    It would be more sensible to rent cheaply, save a nice deposit and buy at a better point in time - then mortgage yourself up to the hilt with no deposit right at the top of a boom.
    BRID, Oct 17, 2006
    #45
  6. ManofScience

    ManofScience Guest

    gotta make a start sometime... go on, jump in!

    i can teach you kitchen building - PLUS i've just added decking building to my portfolio :up: :lol: (it means i've got less grass to cut!)
    ManofScience, Oct 17, 2006
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  7. BRID

    BRID Has name in red. Staff

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    Also - for people a few years older than alot of the people on this board who have the advantage of having bought previously, and hence have some actual EQUITY to play around with - its different.

    I'd love to buy a house, but find it hard to imagine a world where 70% of my take home pay goes on a mortgage, council tax, fuel, water and other bills before things like student loans, a car loan or even being able to actually save for a rainy day when the guttering goes or the washing machine blows up.
    BRID, Oct 17, 2006
    #47
  8. ManofScience

    ManofScience Guest

    mines about 45% of MY take home....
    ManofScience, Oct 17, 2006
    #48
  9. B.O.B.

    B.O.B. Registered User

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    If prices go down, they'll more than likely go down across the board, so I will still be able to buy something equivalent. Mine has gone up by far more than average, hence my comment about jumping a few rungs on the ladder by intelligent buying. My house has gone up enough that I can now buy a flat in London, which I couldn't have dreamt of doing otherwise.

    Anyway, prices aren't really stagnating! Everything I've read says that they are still going up.
    B.O.B., Oct 17, 2006
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  10. MELT

    MELT Registered User

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    man of? council pm's plse
    MELT, Oct 17, 2006
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  11. BRID

    BRID Has name in red. Staff

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    well thats fair enough if its 45% on a 100% mortgage - very copeable aye.

    Dont you have equity tho - surely it takes the sting out of how much it would have cost if you bought like alot of the 'yoof' of today do ... which is to walk into northern rock and take out a 110% mortgage, so they are in negative equity from the word go.
    BRID, Oct 17, 2006
    #51
  12. B.O.B.

    B.O.B. Registered User

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    I'm rather nifty at tiling!
    B.O.B., Oct 17, 2006
    #52
  13. ManofScience

    ManofScience Guest

    doesn't grouting hurt your fingers? :evil: i did my kitchen recently... going round windows is a nightmare...
    ManofScience, Oct 17, 2006
    #53
  14. B.O.B.

    B.O.B. Registered User

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    I'd be very wary of them personally. There are that many being built that the market is flooded.
    B.O.B., Oct 17, 2006
    #54
  15. BRID

    BRID Has name in red. Staff

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    City apartments will be the slums of the next generation. Small, badly designed, loud and with a load of drunken geordies puking and pissing on your doorstep.

    Either that, or badly positioned, making a trip out to get a pint of milk or a loaf of bread a difficult proposition.

    Some of the old conversation based ones on victorian/edwardian buildings are quite nice - but as much as i loved my place back near where the Gate is now - half the time was spent with a constant thump coming from planet earth opposite, people walking down the street shouting at the tops of their voices, or chavs kicking your door in (or attempting to).

    Hardly '24/7 cosmopolitan living' is it.
    BRID, Oct 17, 2006
    #55
  16. B.O.B.

    B.O.B. Registered User

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    I didn't find it too much of a problem in the kitchen. Re-grouting the bathroom was a bugger though.
    B.O.B., Oct 17, 2006
    #56
  17. B.O.B.

    B.O.B. Registered User

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    If you want well placed, quiet, period properties with lots of local amenities and still in a relatively central location, head to Summerhill. I was there for over 7 years and loved it. My house is let at the moment, but will be on the market next summer!
    B.O.B., Oct 17, 2006
    #57
  18. ManofScience

    ManofScience Guest

    my first lesson was "don't leave grout on for an hour or so to watch the F1 qualifiying" spend ages chipping it off with a wallpaper scraper :(
    ManofScience, Oct 17, 2006
    #58
  19. ManofScience

    ManofScience Guest

    new builds can also have their own problems, bad workmanship, etc.
    ManofScience, Oct 17, 2006
    #59
  20. B.O.B.

    B.O.B. Registered User

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    :eek: You've got to take it off within minutes!

    <----- Tiling expert.

    I even bought my own electric tile cutter. All that scoring and snapping over a pencil was driving me nuts.
    B.O.B., Oct 17, 2006
    #60
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